A Large Group of People Who Engage in Collective Action

question 36

Multiple Choice

A large group of people who engage in collective action to achieve a common purpose is called

• A) an oligarchy.
• B) a peer group.
• C) a primary group.
• D) an organization.

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Definitions:

Production Possibilities Frontier

A graph that shows the various combinations of output that an economy can possibly produce, given the available factors of production and the available production technology.

Trade-Off

A choice made in a given situation where one aspect of a set or design is reduced or forfeited to improve other elements.

Opportunity Cost

The dropping of possible gains that could come from other alternatives when a specific one is chosen.

Production Technology

The methods and processes used to convert inputs into outputs (goods or services).